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March 24, 2020 Comments (0) Views: 450 Uptown/Bronx New York

Morgan Stanley Provides Debt on Bronx MF Portfolio

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Black Bear Capital Partners (BBCP) recently arranged $63.8 million in permanent financing on behalf of Finkelstein Timberger East Real Estate (FTERE) to refinance an eight-property multifamily portfolio in the Bronx. The loans were provided by Morgan Stanley.

BBCP’s Bryan Manz, Rob Serra, Emil DePasquale and Brandon arranged the financing packages. The debt features a fixed rate of 4.00% and 10 years of full-term, interest-only payments, along with an earn-out facility.

The eight multifamily properties, totaling 429 units, are located at: 271 E 197th St.; 686 Rosewood Ave.; 2505 Olinville Ave.; 3215 Holland Ave.; 1475 Sheridan Ave.; 2305 University Ave.; 2315 Walton Ave.; and 2515 Olinville Ave.

The permanent financing follows several additional refinancing packages totaling nearly $300 million that BBCP recently arranged on behalf of FTERE throughout the Bronx.

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